Sun 13 Nov 2016 5:22AM
Is there anyway that I can help ease this situation?
a small segment of population has gone digital and is managing fine with their credit cards, online banking and wallets. For the masses, and for the unbanked population, there is a shock. What can I do to ease the situation?
Vijay Anand Sun 13 Nov 2016 6:19AM
we can sign nomination for immediate acquaintances like milkman, maid, Paperboy, etc, to open bank account in our branch.
open a pockets wallet for maid, give her the debit card, no KYC nothing, 10k monthly limit. Only a mobile number needed.
via deepak chander
Vijay Anand · Sun 13 Nov 2016 5:26AM
If you come across any small businesses - merchants, roadside sellers, anyone at all, get them on one of the payment apps. They will be most enthusiastic to learn and transition at this point.
If you can sit with them, and take 10 shops or merchants or roadside sellers and get them on Paytm, Freecharge, MobiKwik - any of them, or all three of them, or even better help them set up on a UPI (Unified Payments Interface) account, they'll wish you well for life.
When you go to the ATM to withdraw, take only what you need immediately. There will be more money that will be coming but for now, be courteous and take the min amount you require.
If you have groceries at home, share them with your maid, driver, security guards and others who are probably stuck in the cash-economy and might be struggling right now.
Don't spread rumours. If you are assuming something, keep it to yourself. Spread good news fast. Hold on to bad news, before you can confirm it officially.
Be nice to people. We are all in this together.